# Korean Won Fundamentals Are Increasingly Bullish – Icon Economics

> An Icon Economics blog argues the won should steadily appreciate as Brent's crash cuts Korea's oil import bill by an estimated $20-30 billion a year. It also cites Fed swap lines preventing a repeat of the March liquidity squeeze, with the BOK having tapped about $16.2 billion.

- Date: 2020-04-29 · published 2020-04-29T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/53889-korean-won-fundamentals-are-increasingly-bullish-icon-economics
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Lower oil import costs and stable dollar liquidity improve Korea's terms of trade and support the won. This is analysis of currency fundamentals rather than a commodity supply or demand event.

## Read by commodity

- BRENT: bearish ▼
- USDKRW: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-02-04 | [Palm oil prices on roller coaster amid bullish outlook but soft fundamentals \| Mysteel](https://feedsoft.ai/events/4665-palm-oil-prices-on-roller-coaster-amid-bullish-outlook-but-soft-fundamentals.md) | +1.8% | +19.9% |
| BRENT | 2019-12-10 | [Commodities Outlook: A little less fundamental, a little more action \| reports \| ING THINK](https://feedsoft.ai/events/55632-commodities-outlook-a-little-less-fundamental-a-little-more-action-reports-ing.md) | +2.1% | +1.6% |
| BRENT | 2019-06-04 | [Oil price slump: is this an economic warning?  - UNSW BusinessThink](https://feedsoft.ai/events/11309-oil-price-slump-is-this-an-economic-warning-unsw-businessthink.md) | +1.7% | +4.6% |
| BRENT | 2026-09-23 | [Financial Microscope Oil Prices, Interest Rates, and the Economy: The Key Factors Shaping Korea's Exchange Rate Around Chuseok - The Asia Business Daily](https://feedsoft.ai/events/17713-financial-microscope-oil-prices-interest-rates-and-the-economy-the-key-factors.md) | +1.9% | +8.3% |
| BRENT | 2020-07-28 | [Is peak oil finally here? OPEC prepares for age of falling demand \| Business and Economy \| Al Jazeera](https://feedsoft.ai/events/52288-is-peak-oil-finally-here-opec-prepares-for-age-of-falling-demand-business-and.md) | +1.3% | +3.2% |

## Sources

- iconeconomics.com: https://iconeconomics.com/korean-won-fundamentals-are-increasingly-bullish/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.